The Collector General of behalf of the Minister for Finance -v- P O'M [2015] IEHC 718 (20 November 2015)

The Collector General of behalf of the Minister for Finance -v- P O'M [2015] IEHC 718 (20 November 2015)

No enforceable agreement existed waiving the interest due, as there was no consideration provided by the debtor. The sum claimed in the bankruptcy summons was less than the debtor's total indebtedness at the relevant time. The debtor's failure to pay constituted an act of bankruptcy, entitling the petitioner to seek adjudication. The application to extend time to dismiss the bankruptcy summons was refused as no good grounds were advanced, and the debtor was not prejudiced as he could raise his arguments in defence to the petition.

Citation
[2015] IEHC 718
Parties
Petitioner: Michael Gladney, Collector General of the Revenue Commissioners on behalf of the Minister for Finance, for the benefit of the Central Fund; Debtor: P. O'M.
Jurisdiction
Ireland
Judgment Date
20 November 2015
Procedural Posture
Bankruptcy Petition / Judgment on Petition and Related Applications
Outcome
Application to extend time to dismiss bankruptcy summons refused; application to dismiss bankruptcy summons refused; petition not dismissed; petition adjourned for debtor to submit statement of affairs and letter from Personal Insolvency Practitioner.
Legal Topics
Consideration in Debt Agreements, Estoppel, Act of Bankruptcy, Application to Dismiss Bankruptcy Summons, Calculation of Debt and Interest
Bankruptcy Contract Law Tax Law Consideration in Debt Agreements Estoppel Act of Bankruptcy Application to Dismiss Bankruptcy Summons Calculation of Debt and Interest

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Parties

Michael Gladney, Collector General of the Revenue Commissioners on behalf of the Minister for Finance, for the benefit of the Central Fund

Petitioner

P. O'M.

Debtor

Procedural Posture

Bankruptcy Petition / Judgment on Petition and Related Applications

Legal Issues

  1. 1 Whether the debtor committed an act of bankruptcy by failing to pay the sum claimed in the bankruptcy summons
  2. 2 Whether agreements between the parties (2003 and alleged 2007) were enforceable and affected the debt
  3. 3 Whether the sum claimed was overstated and invalidated the bankruptcy summons

Ratio Decidendi

No enforceable agreement existed waiving the interest due, as there was no consideration provided by the debtor. The sum claimed in the bankruptcy summons was less than the debtor's total indebtedness at the relevant time. The debtor's failure to pay constituted an act of bankruptcy, entitling the petitioner to seek adjudication. The application to extend time to dismiss the bankruptcy summons was refused as no good grounds were advanced, and the debtor was not prejudiced as he could raise his arguments in defence to the petition.

Court Disposition

Application to extend time to dismiss bankruptcy summons refused; application to dismiss bankruptcy summons refused; petition not dismissed; petition adjourned for debtor to submit statement of affairs and letter from Personal Insolvency Practitioner.

Orders

  • Application to extend time to apply to dismiss bankruptcy summons refused.
  • Application to dismiss bankruptcy summons refused.